Wednesday, November 16, 2016

Housing, Prices, and California v. Texas

This post should not take that long, and some of the contents should be obvious.

Let's start with my trip to Houston Texas.

I read some of the newspapers in the region. It was nice to see US Senator Ted Cruz.

You can buy a mansion in the Houston area--at least the size of the house give that impression--for $500,000.

I spoke with former California residents who had moved to Texas years ago while staying at the local Marriott hotel.

The cost of living is incredible lower.

No income tax.

Easy to buy a home. The live-and-let-live economy policy is strong and resilient in this state.

Even Houston Texas, as blue as the city may be, has one Republican Congressman representing a portion of the city.

Then reality sets in for me.

Back in California, a one-bed, one-bath home can cost around $600,000.

I have seen homes dilapidated, unkept, measure fixer-uppers, and they can net as much as $700,000.

While walking around the Del Aire section of Los Angeles County (on the board of Aviation Blvd and Imperial Highway), another home, owned by the bank, went on the market for over $800,000!

Do the realtors really think that men and women getting by on just enough, are going to drop that kind of money for a box?

In another section of Torrance, just south of Torrance Blvd, near Fern Elementary, there is a huge mansion of a home, but the price is $1 million plus.

Who can afford to live here?!

A friend of  mine who lives in Hermosa Beach California has bought a small home for $1, 250,000. He could sell the home for a tidy profit, then buy another home in another state, with lots of money saved up for investing.

There is some good news ... not that great, but still ...

Housing Prices (

I was walking through the Central Torrance area, to the South of the Del Amo Fashion Center.

A home for sale near Madison Ave and Sepulveda Blvd displayed a "Price Reduced!" sign.

The housing  market is starting to cool off in the South Bay.

It will probably go down more as more citizen-taxpayers get tired of paying the free ride for everyone else and flee the state!

The housing market is also cooling off in San Francisco.

One has to ask why anyone would want to live in The City to begin with, but it seems that more professionals are turning down careers in the Bay Area and going elsewhere. Rents are starting to cool off, too, even though the average apartment still runs for around $3,200 a month ...

Housing prices are a strange indicator of how bad things are in the state of California. There are California residents paying as much as 50% of their income just to housing!

This is unsustainable.

Democrats are just one seat away in the state senate from attaining another supermajority! We can rest assured (or rather resign ourselves to anxiety) that the Dems will look for any opportunity to tinker with or abolish Prop 13.

No comments:

Post a Comment